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        FEMA

        SCHEDULE - Amendments to the Existing Provisions of the FEMA Regulations

        Foreign Exchange Management [Withdrawal of General Permission To Overseas Corporate Bodies (OCBS)] Regulations, 2003

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        Withdrawal of general permission for overseas corporate bodies removes OCB references across FEMA regulations. The amendments remove all textual references to Overseas Corporate Bodies (OCBs) and excise the general permission previously applicable to OCBs by deleting terms such as 'OCB' and 'Overseas Corporate Body' from specified regulations, schedules and annexures across several FEMA instruments, including rules on borrowing or lending in foreign exchange and rupees, deposits, transfers or issues of securities by nonresidents, and derivative contracts.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Withdrawal of general permission for overseas corporate bodies removes OCB references across FEMA regulations.

                                The amendments remove all textual references to Overseas Corporate Bodies (OCBs) and excise the general permission previously applicable to OCBs by deleting terms such as 'OCB' and 'Overseas Corporate Body' from specified regulations, schedules and annexures across several FEMA instruments, including rules on borrowing or lending in foreign exchange and rupees, deposits, transfers or issues of securities by nonresidents, and derivative contracts.


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